How Consumer Spending Is Shaping the Future of SaaS

July 20, 2016

10:40 am

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The SaaS industry – better known as the software as a service market – has been growing along with the rest of the business industry. As consumer trends reflect where users are spending their time and money, companies are scrambling to use this information to better market their products and companies. And by doing so, these companies could be aligning themselves into key positions that will help them better address what consumers are looking for.

By examining consumer spending, jobs, and salaries within the SaaS industry, these companies can move towards better understanding and incorporating consumer trends to help businesses within the SaaS industry succeed.

BetterBuys, in an effort to better understand how these trends work and affect businesses, have conducted and released a new survey that examines how consumer trends operate within SaaS. They open their survey with the following:

“In fact, 64 percent of small and medium businesses today rely on cloud-based technology to drive growth and boost workflow efficiency, according to research from BSCG. And 78 percent of businesses indicate that they plan to expand the number of SaaS platforms they use over the next three years, raising the average number of applications used from three to seven.

To gain valuable insights into the SaaS industry amidst these notable trends, we analyzed various data about consumer spending, job listings and salaries, and top SaaS companies and company types. To discover where the industry has been as well as where it’s headed, read on for a big-picture view of the state of SaaS.”

Some of the key findings of the survey illuminate where the industry is headed as more companies push to incorporate SaaS technology. It was found that more than 1,400 new SaaS companies have sprung up in the last five years – spreading the competition beyond major companies like Adobe, Cisco, and IBM. It’s also a good growth opportunity for those looking to build their career within Saas – Massachusetts, Maryland, Washington, Virginia, and Colorado are the top states, with analysts being the most in-demand position.

Incorporating SaaS into the workplace can be beneficial to help push your company to match the need in the industry.

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Cameron is a tech and culture journalist, comic book enthusiast, and lives near New York City. A graduate of Stockton University, she's using her words to shift the world of online journalism, one byline at a time. When she's not writing, she can be found reading sci-fi novels, collecting succulents, and planning her next obnoxious hair color.
Cameron is an editorial fellow at Tech.Co. Send your tips to cameron@tech.co or tweet @BlkGirlManifest.